Managing director Andrew Smith, former CEO of Four Foods Group, said Savory is filling a gap in private equity investment
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Over 12 years at Four Foods Group, Andrew Smith built an empire of food and beverage brands that generated about a billion dollars in sales at 170 restaurant locations across the country.
But despite the success of Four Foods and its portfolio of restaurants, the former CEO noted one flaw in the system: private equity investment. Too often, firms invested in high potential brands to scale them quickly, but without giving them any guidance on how to grow responsibly.
“There was always a big disconnect between money and experience in the industry,” Smith told Nation’s Restaurant News in an exclusive interview to announce his latest project.
Smith is now the managing director of Savory Fund, a new division of Salt Lake City-based growth fund M...
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